TMUS pops to highest close since April 30th
T-Mobile US Inc. (TMUS) Technical Analysis Report for Jun 14, 2018 | by Techniquant Editorial Team
Moving higher for the 4th day in a row, TMUS ended Thursday at 59.53 surging $0.85 (1.45%). This is the biggest single day gain in over a week. Today's closing price of 59.53 marks the highest close since April 30th. Closing above Wednesday's high at 59.09, the market confirms its breakout through the prior session's high having traded $0.61 above it intraday. Ending with a strong close near the high of the day sets a bullish note for the next session.
Daily Candlestick Chart (TMUS as at Jun 14, 2018):
Thursday's trading range was $1.08 (1.84%), that's far above last trading month's daily average range of $0.80. Weekly volatility is also higher, being above the markets average with the monthly volatility being below average.
Breaking through the key resistance level at 59.35 today, it is now likely to act as support going forward.
Although T-Mobile US is experiencing a short-term up trend, this could just be a correction, as both the medium and long term trends are still in negative territory. The stock managed to break above the 50-day moving average at 58.99 today for the first time since April 10th.